AB742 Text:

S T A T E O F N E W Y O R K
________________________________________________________________________
742
2015-2016 Regular Sessions
I N A S S E M B L Y
January 7, 2015
___________
Introduced by M. of A. STECK -- read once and referred to the Committee
on Insurance
AN ACT to amend the insurance law, in relation to requiring malpractice
insurance for engineers and architects
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
1 Section 1. The insurance law is amended by adding a new article 81 to
2 read as follows:
3 ARTICLE 81
4 PROFESSIONAL MALPRACTICE INSURANCE
5 SECTION 8101. ENGINEERS AND ARCHITECTS.
6 S 8101. ENGINEERS AND ARCHITECTS. AS A CONDITION OF LICENSING AND
7 MAINTAINING AN ACTIVE LICENSE, AND PRIOR TO THE ISSUANCE OR RENEWAL OF
8 AN ACTIVE LICENSE OR REACTIVATION OF AN INACTIVE LICENSE, ENGINEERS AND
9 ARCHITECTS SHALL OBTAIN AND MAINTAIN PROFESSIONAL LIABILITY COVERAGE IN
10 AN AMOUNT NOT LESS THEN ONE MILLION DOLLARS PER CLAIM, WITH A MINIMUM
11 ANNUAL AGGREGATE OF NOT LESS THAN THREE MILLION DOLLARS.
12 S 2. This act shall take effect on the one hundred eightieth day after
13 it shall have become a law.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD04396-01-5